Understanding Banking and Savings Concepts

Front

To avoid frequent trips to the bank, many people use a(n) ______ to withdraw cash or check their account ______.

Back

ATM / Balance

Front

A(n) ______ shows all the transactions in your account and is typically sent once a month.

Back

Bank Statement

Front

Your savings grow by earning ______, which is paid out as a percentage of your savings balance.

Back

Compound Interest

Front

A(n) ______ is linked directly to your checking account and can be used to withdraw money or make purchases.

Back

Debit Card

Front

Many employers offer ______, which electronically transfers your paycheck directly into your bank account.

Back

Direct Deposit

Front

What protects your deposits in the bank up to $250,000 in case the bank fails?

Back

FDIC Insurance

Front

Some banks charge a(n) ______ each month just to keep your checking or savings account open.

Back

Maintenance Fee

Front

Some financial institutions require you to maintain a(n) ______ in your account to avoid being charged fees.

Back

Minimum Balance

Front

Using ______ on your banking app allows you to deposit checks without visiting a branch.

Back

Mobile Deposit

Front

To avoid a(n) ______, ensure you have enough funds in your account to cover all transactions.

Back

Overdraft Fee